Vietnam Coal and Mineral Industries Group (Vinacomin) has just announced an invitation to invest in Quynh Lap I coal fired Thermal Power Project (TPP) with a capacity of 1200 MW.
For Quynh Lap I TPP Vinacomin holds 36% of enterprise charter capital and it invites domestic and foreign investors (at least two investors) to contribute 64% of remaining capital to develop the project with a condition that every investor contributes as an independent one a capital less than 36% (but at least 10%) of charter capital and a total capital of the dependent investors does not exceed 64% of charter capital.
The Quynh Lap I TPP will be developed by the form that the investors contribute capitals to found a Joint Stock Company or Limited Liability Company with two or more members for investing, building and operating the project as an Independent Power Project (IPP).
The total investment level of the project is about 48,516 billion VND equivalent to US$ 2.13 billion (by the exchange rate of 22,790 VND/US$) including taxes, fees and contingencies but excluding the transmission line from power plant to the national power system.
The capital for project implement includes 20% of equity from the investors (Vinacomin and other investors) and 80% of borrowed capital. The project progress is estimated in 2017 – 2026 period.
The Quynh Lap Power Center in Nghe An province approved by Ministry of Industry and Trade includes two TPPs as Quynh Lap I (2×600 MW) and Quynh Lap II (2×600 MW).
According to the Power Development Planning VII (adjusted project) and the Decision No 428/QĐ-TTg on 18/3/2016, the Vietnamese Government has assigned Vinacomin as the investor of Quynh Lap I TPP.
The Feasibility Study Report of Quyh Lap I TPP was approved by Vinacomin in the Decision No 348/QĐ-TKV on 6/3/2017 and the project environmental impact assessment report was approved by Ministry of National Resources and Environment in Decision No. 2784/QĐ-BTNMT on 2/12/2016.